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business credit card
south_east
Posts: 1 Newbie
in Credit cards
Hi, can someone advise?
I had a company that went into voluntary liquidation last year.
With it I personally guaranteed a debt on my overdraft if anything went wrong.
I ended up with an overdraft of approx. six thousand pounds that I know I am responsible for, but now the bank are saying that I am responsible for the debt on the company credit card.I have said that at no time was I advised that this would be the case and have asked for relevant paperwork signed explaining this.They do not have this and have actually said they do not have to provide it?In my opinion the credit card company are the creditor and not the Bank.
If they do not have paperwork signed by myself where do they stand in progressing this demand? The card has approx. £9,500 on it.They have supplied a terms and conditions that do not relate to my company as it is just a copy of something.My company name does not appear on it or signitures.
Can anyone help?
I had a company that went into voluntary liquidation last year.
With it I personally guaranteed a debt on my overdraft if anything went wrong.
I ended up with an overdraft of approx. six thousand pounds that I know I am responsible for, but now the bank are saying that I am responsible for the debt on the company credit card.I have said that at no time was I advised that this would be the case and have asked for relevant paperwork signed explaining this.They do not have this and have actually said they do not have to provide it?In my opinion the credit card company are the creditor and not the Bank.
If they do not have paperwork signed by myself where do they stand in progressing this demand? The card has approx. £9,500 on it.They have supplied a terms and conditions that do not relate to my company as it is just a copy of something.My company name does not appear on it or signitures.
Can anyone help?
0
Comments
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What does your credit report say?0
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..........and you wonder why banks are reluctant to lend to small and medium companies?0
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Guarantees/indemnities are onerous. If a party wishes to rely upon them then they must be properly drafted and that party would have to prove that their terms were agreed to.jonesMUFCforever wrote: »..........and you wonder why banks are reluctant to lend to small and medium companies?
Ha ha ha... well... I can imagine they are reluctant if they can't trust themselves to manage the paperwork properly.0
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